There’s a broker who’s sure that all sites turn to gold
And she’s selling the stairway to heaven.
When she gets there she knows, if the sites are all sold
There’s a vacancy coming to save her.
And she’s selling the stairway to heaven. 

– Led Zeppelin (adapted)

One of the popular metaphors for decision-making in the information age is the “Knowledge Hierarchy.”  It is based on the idea that we start with raw data and gradually process it through stages until it becomes wisdom suitable for making good choices.

Some people apply this to professional development over the career of a chain store real estate executive.  When you’re young, you simply see data, but as you get more experience and insight, you are able to use your wisdom to evaluate sites.

The fact is, each site must be evaluated through a process that starts with raw data that is enhanced with verification, context, and benchmarks until it is ready for the application of human wisdom. 

The human brain uses pattern recognition and analogies to analyze complex decisions.  This is why “analog stores” are popular in site selection.  If we can find existing stores that are similar to a proposed location, we can adjust the details and apply our knowledge of its sales performance to the new site. Continue reading →